Please, Heavens, give me 10 million more Ron Taylors.
Some of those who follow this thread know that I've been a biotech warrior, that I've had a passion for defending valuations in the sector. Since becoming a trader, I've changed. I'm giving up. One just can't effectively combat every fool, motley or otherwise.
Instead, I now say "bring on the Ron Taylors!", open wallets held out in front of them. They don't need to trade, they can just deposit their money directly into my accounts.
The top-tier companies often become over-valued. We've never seen anything like February 2000 before, but over-valuation in the top tiers is nothing new. On each occasion, I hope that "research premiums" between the "haves" and the "have-nots" will meet in the middle. They never do -- the small caps correct just as severely as the companies that are grossly over-valued.
Every time it spells huge opportunity.
Never changes.
It's time to shoot fish in a barrel. It's "pick winners not bargains" time again for the market in general, and the nice thing about small cap biotech?...... many of the future winners are also screaming bargains, absolute basis or otherwise.
Bring on the Ron Taylors! |
